Sunday, February 19, 2017

no surprise its the kings house

Elvis’s Former Home Hits the Market for $30 Million

The Beverly Hills home that newlyweds Elvis and Priscilla Presley purchased in 1967 has hit the market. The King of Rock ‘n’ Roll and his young bride paid a small fortune of $400,000 (just under $3 million today) for the 5,367-square-foot home in the exclusive Trousdale Estates enclave. At the time, the neighborhood of luxurious mid-century homes—designed by renowned local talents like Richard Neutra and Wallace Neff—was fast becoming a community for Hollywood’s rich and famous.

Throughout their residency at 1174 Hillcrest Road, the Presley’s enjoyed many a personal and professional milestone. In 1968 the couple came home with newborn Lisa Marie; later that year, Elvis made his return to live music with his ’68 Comeback Special performance (a program that topped out the season for NBC). Elvis famously signed autographs at the home’s front gate, too. By 1973, however, the couple divorced and sold their once-happy starter home.

Little came of 1174 Hillcrest Road for the nearly four decades that followed. Fans still drove by for a picture every now and then, sometimes leaving notes behind by its front gate. It wasn’t until 2012 that the home was back in the news, when it was reported that Hard Rock Café co-founder Peter Morton—who had purchased the place for $9.8 million—planned to demolish it.

Public outcry ultimately saved the home; Morton’s plans thwarted, the businessman instead sold the property for $14.5 million in 2014. Now, just three years later, the French Regency estate is back on the market for an extraordinary $30 million. To be sure, the three-bedroom home has had more than a few updates over the years, with new flooring and electrical wiring, as well as luxurious additions like a pool, a spa, and a guesthouse. Still, the house’s best qualities—impressive city views and walls of glass throughout—remain unchanged since its Elvis days.

Time will tell if the Presley’s 1.18-acre estate has indeed doubled in value in just three years. Regardless of its sale price, the home’s place in rock ‘n’ roll history—not to mention the hearts of Elvis fans everywhere—is no doubt secure. (theagencyre.com)